Created a draft of our 2023 taxes to get an idea of where we stand. Looks like we are going to owe about $3,500. Seems like my wife never updated her W4 when she got a promotion and thereby a significant raise.
We’ve never owed this much before. The most we’ve ever owed was around $600 which we paid in one shot. The owed amount for 2023 we can pay in six months or so making monthly installment payments.
So I’m looking at setting up installment payments with the IRS. What I am not sure about is how to set it up. Do I E-file my taxes like normal and then setup the installment payments with the IRS? Or is there a way I can tell the TurboTax program that’s what I want to do and it would somehow let the IRS know when I E-file my taxes?
Thanks in advance.
